IPO lock-ins worth $20 billion to hit stock market in next 3 months

A large volume of pre-listing shareholder lock-ins is set to expire over the next quarter, potentially influencing stock market activity. According to a report by Nuvama Institutional Equities, between August 25 and November 27, 2025, as many as 57 companies will see their lock-ins lifted. The total value of these shares stands at nearly USD 20 billion.

Nuvama noted that this figure represents the total lock-up opening shares but clarified that not all of these shares may hit the secondary market, as a sizable portion is held by promoters and groups who may not sell immediately.

The brokerage stated that its analysis covers both promoter and non-promoter holdings for businesses listed up to August 20, 2025.


The upcoming unlocks span multiple sectors, marking a busy period for IPO lock-in expiries. Below is a summary of the key unlocks scheduled in the coming quarter, along with the shares available for trading and their percentage of total outstanding shares.

1-Month Lock-in Expiries

Several companies will see their shareholder lock-ins lifted in the one-month window ending mid-September. Key names include:

• GNG Electronics (Aug 28 | 3 mn shares | 3%)
  
• Brigade Hotel Ventures (Aug 28 | 18 mn shares | 5%)
  
• Aditya Infotech (Sep 1 | 4 mn shares | 4%)
  
• Sri Lotus Developers (Sep 3 | 8 mn shares | 2%)
  
• Highway Infrastructure (Sep 8 | 2 mn shares | 2%)
  
• All Time Plastics (Sep 11 | 2 mn shares | 3%)
  
• Regaal Resources (Sep 17 | 4 mn shares | 4%)
  
• Indiqube Spaces (Aug 28 | 7 mn shares | 3%)
  
• Shanti Gold International (Aug 29 | 3 mn shares | 4%)
  
• Laxmi India Finance (Sep 1 | 2 mn shares | 5%)
  
• M & B Engineering (Sep 3 | 4 mn shares | 7%)
  
• JSW Cement (Sep 11 | 37 mn shares | 3%)
  
• BlueStone Jewellery (Sep 15 | 7 mn shares | 4%)
  

3-Month Lock-in Expiries

A larger tranche of unlocks will occur between late August and mid-November under the three-month schedule. Major stocks include:

• Belrise Industries (Aug 25 | 36 mn shares | 4%)
  
• Prostarm Info Systems (Aug 28 | 2 mn shares | 4%)
  
• Aegis Vopak Terminals (Aug 28 | 27 mn shares | 2%)
  
• Schloss Bangalore (Aug 28 | 18 mn shares | 5%)
  
• Scoda Tubes (Sep 1 | 2 mn shares | 4%)
  
• Arisinfra Solutions (Sep 22 | 5 mn shares | 6%)
  
• Kalpataru (Sep 25 | 9 mn shares | 4%)
  
• HDB Financial Services (Sep 29 | 23 mn shares | 3%)
  
• Indogulf Cropsciences (Sep 30 | 3 mn shares | 4%)
  
• Oswal Pumps (Sep 16 | 3 mn shares | 3%)
  
• Ellenbarrier Industrial Gases (Sep 25 | 3 mn shares | 2%)
  
• Globe Civil Projects (Sep 25 | 3 mn shares | 4%)
  
• Sambhv Steel Tubes (Sep 29 | 10 mn shares | 3%)
  
• Travel Food Services (Oct 8 | 3 mn shares | 2%)
  
• Anthem Biosciences (Oct 15 | 9 mn shares | 2%)
  
• GNG Electronics (Oct 27 | 3 mn shares | 3%)
  
• Brigade Hotel Ventures (Oct 27 | 18 mn shares | 5%)
  
• Aditya Infotech (Oct 30 | 4 mn shares | 4%)
  
• Shanti Gold International (Oct 28 | 3 mn shares | 4%)
  
• Laxmi India Finance (Oct 30 | 2 mn shares | 5%)
  
• M & B Engineering (Nov 3 | 4 mn shares | 7%)
  
• JSW Cement (Nov 10 | 37 mn shares | 3%)
  
• BlueStone Jewellery (Nov 12 | 7 mn shares | 4%)
  
• Sri Lotus Developers (Nov 3 | 8 mn shares | 2%)
  
• Highway Infrastructure (Nov 6 | 2 mn shares | 2%)
  
• All Time Plastics (Nov 10 | 2 mn shares | 3%)
  
• Regaal Resources (Nov 17 | 4 mn shares | 4%)
  

6-Month Lock-in Expiries

Two significant unlocks are scheduled under the six-month period:

• Ather Energy (Nov 6 | 162 mn shares | 44%)
  
• Borana Weaves (Nov 27 | 3 mn shares | 10%)
  

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